3,485 Shares in M&T Bank Corporation $MTB Acquired by Integrity Alliance LLC.

Key Points

• Integrity Alliance LLC made a new investment in M&T Bank Corporation, purchasing 3,485 shares valued at approximately $623,000.
• Insider activity shows a significant decrease in holdings for directors, with one selling 15,000 shares at nearly $3 million, highlighting potential shifts in confidence among top management.
• Analysts have increased their price targets for M&T Bank, with Cantor Fitzgerald setting an "overweight" rating and a target of $228.00, reflecting positive sentiment toward the stock.

Integrity Alliance LLC. bought a new position in M&T Bank Corporation (NYSE:MTB - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,485 shares of the financial services provider's stock, valued at approximately $623,000.

Other institutional investors have also bought and sold shares of the company. Marcum Wealth LLC increased its stake in M&T Bank by 4.9% in the first quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock valued at $220,000 after purchasing an additional 57 shares during the last quarter. First Manhattan CO. LLC. grew its position in shares of M&T Bank by 0.6% in the 1st quarter. First Manhattan CO. LLC. now owns 9,693 shares of the financial services provider's stock valued at $1,733,000 after buying an additional 57 shares during the last quarter. Forum Financial Management LP grew its position in shares of M&T Bank by 2.2% in the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock valued at $540,000 after buying an additional 62 shares during the last quarter. Compound Planning Inc. grew its position in shares of M&T Bank by 3.0% in the 1st quarter. Compound Planning Inc. now owns 2,222 shares of the financial services provider's stock valued at $397,000 after buying an additional 64 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its position in shares of M&T Bank by 4.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider's stock valued at $282,000 after buying an additional 67 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Price Performance

Shares of NYSE MTB traded up $1.43 during midday trading on Thursday, hitting $200.03. The company had a trading volume of 327,652 shares, compared to its average volume of 1,209,732. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. M&T Bank Corporation has a twelve month low of $150.75 and a twelve month high of $225.70. The business has a 50-day simple moving average of $195.24 and a two-hundred day simple moving average of $184.02. The firm has a market capitalization of $31.26 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.96 and a beta of 0.67.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the firm earned $3.73 EPS. Equities research analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a dividend of $1.50 per share. This is a boost from M&T Bank's previous quarterly dividend of $1.35. This represents a $6.00 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. M&T Bank's payout ratio is presently 38.86%.

Wall Street Analysts Forecast Growth

MTB has been the topic of several research reports. Wells Fargo & Company raised their price objective on M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. Citigroup raised their price target on M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Cantor Fitzgerald began coverage on M&T Bank in a research note on Wednesday, September 10th. They set an "overweight" rating and a $228.00 price target on the stock. Morgan Stanley raised their target price on shares of M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Finally, DA Davidson raised their target price on shares of M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Fourteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $214.31.

Insider Buying and Selling

In related news, Director Richard H. Jr. Ledgett sold 1,277 shares of M&T Bank stock in a transaction on Monday, July 21st. The stock was sold at an average price of $197.48, for a total transaction of $252,181.96. Following the completion of the transaction, the director directly owned 4,881 shares of the company's stock, valued at approximately $963,899.88. The trade was a 20.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John P. Barnes sold 15,000 shares of M&T Bank stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the transaction, the director directly owned 17,866 shares of the company's stock, valued at $3,569,448.14. This trade represents a 45.64% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,738 shares of company stock valued at $3,734,612. 0.53% of the stock is owned by insiders.

M&T Bank Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.